Byron Allen Buys Malibu Mansion For $100 Million, Biggest Home Sale Ever For African American
Billionaire mogul Byron Allen, CEO of Entertainment Studios and perhaps best known for buying The Weather Channel, purchased a Malibu mansion for $100 million, reports the Wall Street Journal.
The monster real estate deal represents the most ever paid for a home by an African-American buyer in the United States. It is also one of the highest prices paid for a residence in the U.S. this year.
Allen started as a comic who made his debut in 1979 at age 18 as the youngest comic to appear on The Tonight Show and soon gained further recognition as a host of Real People, a precursor to reality television in which he traded some of television’s worst one-liners with the likes of Skip Stephenson and Sarah Purcell. He later pivoted and made his fortune in media. Through Entertainment Studios, Allen owns local TV stations, multiple 24-hour cable channels and streaming networks, and is the producer and distributor of more than 60 syndicated TV shows.
The 11,000 square foot compound sits on 3.5 square acres, and overlooks the Pacific Ocean via a bluff. It includes a main four-bedroom house, along with two guesthouses. Amenities include a screening room and “winding path allowing the owner to drive a gold car or small vehicle down to the beach,” according to the WSJ. Continue Reading: LAMAG
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